Shares of Allergan jumped more than 2 percent Wednesday after analysts at Morgan Stanley downplayed concern over competitive pressure for its key product, Botox. “Fears about a ‘better Botox’ may be overdone,” said analyst David Risinger in a note to clients. He noted that it “could be difficult” for competitor Revance Therapeutics to show that […]
Read moreGold’s trading activity has been unusually calm this year, but that may be about to change. Metals expert Michael Dudas of Vertical Research sees volatility slithering back into the “eerily quiet” gold market — with a “breakout” potentially in the cards as the December Federal Reserve meeting approaches and as lawmakers battle over the tax […]
Read moreCheck out which companies are making headlines before the bell: Tiffany — The luxury goods retailer reported a third-quarter profit of 80 cents per share, 4 cents a share above estimates. Revenue also beat forecasts, and an unchanged performance for comparable-store sales was better than the 0.2 percent decline that analysts had anticipated. Results were […]
Read moreFederal Reserve Chair Janet Yellen is set to testify on the economy before the Joint Economic Committee on Wednesday, and foreign exchange strategists are watching her remarks for their implications across asset classes. Boris Schlossberg of BK Asset Management believes that even though Yellen’s tenure as chair is coming to a close, her testimony on […]
Read moreAfter shares of Thor Industries surged over 13 percent on Tuesday off a strong earnings report, President and CEO Bob Martin broke down the recreational vehicle maker’s forward drivers for CNBC. “It’s the change of lifestyle, it’s a younger demographic, it’s an industry that’s really reaching this younger buyer,” Martin told “Mad Money” host Jim […]
Read moreCNBC’s Jim Cramer was amazed that President Donald Trump’s tweet suggesting an imminent government shutdown and North Korea’s missile launch weren’t enough to send stocks down on Tuesday. “Oh, how the mighty haven’t fallen,” the “Mad Money” host said. “The market refuses to be brought down by news that would’ve crushed us at almost any […]
Read moreShares of Thor Industries soared over 13 percent in midday trading Tuesday after the RV builder reported robust earnings and upped its future expectations. Thor’s record EPS of $2.43 for first quarter 2018 crushed Wall Street’s expectations by 59 cents. The company’s stock is on track to have its best day since Aug. 3, 2012, […]
Read moreInvestors will have to be careful next year as potential stalling economies in the U.S. and China, along with rising global inflation and tighter monetary policy, could make for a “tricky” 2018, according to Morgan Stanley. Andrew Sheets, chief cross-asset strategist at Morgan Stanley, said in a note Sunday he expects U.S. economic growth to […]
Read moreRemember life before the internet? No smartphones, no video streaming, no social media, no online shopping … If you are nostalgic for that world, just check out the MSCI EAFE Index. One of the oldest non-U.S. equity market measurements around, it covers developed economies in Europe, Asia and the Far East. The fourth-largest ETF in […]
Read moreOne of Wall Street’s most vocal bulls has grown less optimistic that tax reform will become a reality. According to Oppenheimer Asset Management’s John Stoltzfus, the chances of it passing are very slim. “Tax cut, OK. But tax reform is much too dramatic considering all the different constituencies that are involved here and all the […]
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